Norwegian Air pledges Gatwick rights to push bond maturities

Troubled airline Norwegian Air Shuttle has offered high yield bondholders security over its take-off and landing rights at London’s Gatwick Airport, in exchange for agreeing to extend the maturity of the debt.

  • By Owen Sanderson
  • 02 Sep 2019
The airline launched an emergency rights issue in January and more recently sold a stake in Norwegian Finans, its bank subsidiary, for $245m. It has sold $127m of aircraft so far this year. Its €250m 7.25% bond is due in December, while its Skr963.5m ($99.4m) floating rate note ...

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